Vigus I refer you to the swamp land theory. Why would the presidents of Lehman Brothers and Bear both go on television (CNBC) and say their companies need no capital when they did? Within 3 weeks Bear collapsed and within 2 months Lehman went bankrupt. Both Moodys and the S & P rating agencys gave mortgage backed securities triple A ratings...guess what? They collapsed. Goldman got a bailout by congress running an end around instead of bailing out the toxic Mortgage Backed Securities market in the banking system, Hank Paulson, (Ex Goldman CEO, US Treasury Secretary) bailed out AIG insofar that Goldman Sachs had 12.9 billion dollars of credit fault swaps (insurance on mortgage bonds) with AIG. If AIG goes bankrupt Goldman goes bankrupt. These are all big reputable companies and they all mislead the shareholders. Lesson: dont believe everything you hear from the leaders of companies nor anyone. Do your own research. We dont have MBAs giving us recommendations we have ACTORS. If you believe in this deal because the board recommended it you need your head examined. If you believe in the deal because you did research and feel its the best they can do in the current economic conditions and you dont believe the our employers can afford it, thats fair enough. However Edney actually brings up a very valid argument that I support. Mega entertainment company CEOs that employ us are making record salaries and the money is there in abundance to pay us a fair and equitable wage increase in network, cable, new media and SVOD based upon the real ad revenue numbers. We deserve our fair share. I dont think you or Lulu would disagree that the evidence on public record demonstrates our management can pay us fairly and it wouldnt make a dent in their pockets. We make them money and they make us money. If we have more ( non-discretionary) capital our members have more money to spend at merchants and vendors thus benefiting our econemy. If you dont think we have the power to get a better deal than I ask you where is the great bargaining strength that this merged union promised us? And what about the CEOs who run these U.S. media companies? Well, last year they made more than the chiefs of autos, energy, finance and other sectors that have far more impact on the economy. According to AP, six of the country’s 10 highest-paid CEOs come from media. Look at their compensation packages for 2013: Viacom and CBS executive chairman Sumner Redstone made $93M in 2013 (an 80% year-over-year increase), CBS’ Les Moonves $65.6M, Viacom’s Philippe Dauman $37.2M, Disney’s Bob Iger $34.3M, Discovery’s David Zaslav $33.3M, Time Warner’s Jeff Bewkes $32.5M, Comcast’s Brian Roberts $31.4M, NBCUniversal’s Steve Burke $31.1M, Starz’ Chris Albrecht $30.4M, Viacom’s Thomas Dooley $28.9M, 21st Century Fox’s and News Corp’s Rupert Murdoch $28.9M, Lionsgate’s Michael Burns $28.2M, and 21st Century Fox’s and News Corp’s Chase Carey $27M. Love everyones thoughts.
Posted on: Wed, 13 Aug 2014 05:05:04 +0000
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